Governments and traders spent Monday assessing the energy fallout from the expanding war involving Iran, as disruption around the Strait of Hormuz renewed fears over one of the world’s most important oil corridors. Since the conflict began on Feb. 28, tanker traffic through the strait has largely stalled, raising concern that a prolonged interruption could restrict supply well beyond the…
Vietnam and Russia have established a covert financial arrangement to facilitate defense transactions while evading U.S. and Western sanctions. This mechanism leverages profits from their joint oil venture, Rusvietpetro, to settle military debts without engaging in international financial systems like SWIFT. The arrangement underscores Vietnam’s strategic balancing act between its defense ties with Russia and its growing relations with the…
The Federal Reserve lowered its benchmark interest rate by 0.25 percentage points, the first reduction in more than a year. Policymakers also signaled that two additional cuts could be made before the end of the year, underscoring the central bank’s concern about a softening U.S. labor market. This shift marks a significant change in strategy, as the Fed has been…
StubHub, one of the world’s largest secondary ticket marketplaces, has officially launched its initial public offering (IPO), pricing shares at $23.50 each. The stock began trading on the New York Stock Exchange under the ticker symbol “STUB.” Through the sale of just over 34 million shares, the company raised close to $800 million, setting its total market capitalization at approximately…
Nearly 200 shipping companies, representing both private and public stakeholders, are urging global maritime authorities to approve new measures that would, for the first time, introduce a global fee on greenhouse gas emissions. The proposal comes from the Getting to Zero Coalition, a broad alliance of companies, governments, and intergovernmental organizations seeking to accelerate the industry’s decarbonization. Industry Pushes For…
The late Giorgio Armani, who died on September 4, 2025, at the age of 91, left behind a carefully structured plan for the future of his fashion house. Widely regarded as one of the most influential designers of the modern era, Armani had long prepared for the eventual transfer of his empire, ensuring both family members and trusted collaborators were…
The European Central Bank (ECB) opted to leave its key deposit rate unchanged at 2.00% during its latest policy meeting in Frankfurt, highlighting that inflationary pressures have eased and the broader economy remains relatively resilient. ECB President Christine Lagarde remarked that “monetary policy is in a good place” and stressed that future decisions will follow a “meeting-by-meeting” approach, underscoring the…
